http://www.runbloombergrun.com/financial/debts/easier-way-to-take-care-of-debts/ Sat, 23 Jan 2010 23:20:12 -0700 http://wordpress.org/?v=2.8.5 hourly 1 http://www.runbloombergrun.com/financial/debts/easier-way-to-take-care-of-debts/comment-page-1/#comment-187 Debt Consolidation Consolidate Tue, 17 Nov 2009 09:18:58 +0000 http://www.runbloombergrun.com/?p=223#comment-187 Create a budget and start saving right away. Plan for emergencies and big purchases. Start a savings account to pay for expenses that you know you'll incur. Then you won't be tempted to add more to your debt load. Get rid of high interest credit accounts. Throw out ALL department store and other retail store cards. Most are at 18%-23% or more. Pay them off as quickly as you can manage. Never pay just the minimum payment. It'll take you years to payoff the debt, and cost you even more interest as the balance accumulates each month. Always send in more than the minimum payment amount, and indicate extra principle on your check for car loans, home loans etc. Create a budget and start saving right away. Plan for emergencies and big purchases. Start a savings account to pay for expenses that you know you’ll incur. Then you won’t be tempted to add more to your debt load.
Get rid of high interest credit accounts. Throw out ALL department store and other retail store cards. Most are at 18%-23% or more. Pay them off as quickly as you can manage.
Never pay just the minimum payment. It’ll take you years to payoff the debt, and cost you even more interest as the balance accumulates each month. Always send in more than the minimum payment amount, and indicate extra principle on your check for car loans, home loans etc.

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